EUR/USD Price Analysis: Next hurdle comes in at 1.2200

EUR/USD fades Tuesday’s negative pullback and looks to 1.2200.
Extra gains seen above the mid-1.2200s near-term.

Pablo Piovano FXStreet

Bulls regain the upper hand and push EUR/USD back to the vicinity of 1.2200 the figure on Wednesday.

A move above the weekly highs around 1.2200 should expose the short-term resistance line (off March lows) around 1.2260. This area is also coincident with monthly peaks (May 25). Above this region, the pair should resume the upside bias and target the 1.2300 yardstick.

On the broader view, the constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1984.

The ongoing correction follows the recent bearish divergence in the daily RSI, as it did not confirm the recent peaks near 1.2270.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2192
Today Daily Change	24
Today Daily Change %	0.16
Today daily open	1.2173

Trends
Daily SMA20	1.2181
Daily SMA50	1.2066
Daily SMA100	1.2043
Daily SMA200	1.1988

Levels
Previous Daily High	1.2194
Previous Daily Low	1.2164
Previous Weekly High	1.2254
Previous Weekly Low	1.2104
Previous Monthly High	1.2266
Previous Monthly Low	1.1986
Daily Fibonacci 38.2%	1.2176
Daily Fibonacci 61.8%	1.2183
Daily Pivot Point S1	1.216
Daily Pivot Point S2	1.2147
Daily Pivot Point S3	1.213
Daily Pivot Point R1	1.219
Daily Pivot Point R2	1.2207
Daily Pivot Point R3	1.222

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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